If you’ve ever had construction or maintenance work carried out in your home, then you already know the different ways you can pay someone. For instance, you can pay someone an hourly or day rate, you could agree a fixed price, or you can pay a unit rate (for instance, you pay for each door to be installed, or each fence panel to be replaced).
And if you work in construction, you know the same applies, and that the contract determines the method of payment. In this video, we’re going to compare the four most popular construction contracts, discuss when they should be used and understand why.
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0:00 Introduction
0:37 Lump Sum
2:06 Cost Reimbursable
2:48 Re-measurable
4:00 Target Cost
5:15 Metroun
#QuantitySurveying #Construction #Infrastructure
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